De Vossenberg: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
De Vossenberg
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€61,280
2024 · €227,203-€288,483
Equity
€150,220
2024 · €211,499-€61,280
Cash
€266,188
2024 · €64,131+€202,057
Balance sheet total
€5.9m
2024 · €1.3m+€4.6m
Largest movements
Assets
- Tangible fixed assets +€4.5m
up €4.5m (+657%), from €678,963 to €5.1m
of which Land and buildings: +€4.5m
- Cash +€202,057
up €202,057 (+315%), from €64,131 to €266,188
mainly Debts after one year (+€4.2m) and Depreciation (+€772,321)
- Financial fixed assets -€75,000
no longer reported in 2025 (was €75,000)
Equity and liabilities
- Debts after one year +€4.2m
up €4.2m (+5,023%), from €83,003 to €4.3m
- Current portion of long-term debt +€346,786
up €346,786 (+320%), from €108,246 to €455,032
- Trade debts +€225,663
up €225,663 (+84.0%), from €268,544 to €494,207
- Profit (loss) carried forward -€61,280
new in 2025: -€61,280
Income statement
- Depreciation +€643,365
up €643,365 (+499%), from €128,956 to €772,321
- Gross operating margin +€333,895
up €333,895 (+14.4%), from €2.3m to €2.7m
- Staff costs +€321,956
up €321,956 (+20.5%), from €1.6m to €1.9m
- Taxes -€51,840
down €51,840 (-99.5%), from €52,112 to €272
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€227,203
Gross operating margin
+€333,895
Staff costs
-€321,956
Depreciation
-€643,365
Other operating charges
+€4,534
Other operating items
+€303,134
Financial income
-€1,337
Financial charges
-€15,227
Taxes
+€51,840
Result 2025
-€61,280
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€847,272
Investment
-€5.2m
Financing
+€4.5m
Cash 2024
€64,131
From operations (derived)
+€847,272
Net result for the year
-€61,280
Depreciation
+€772,321
Stocks and contracts
-€35,298
Receivables within one year
-€28,769
Deferred charges and accrued income
+€23,934
Trade debts
+€225,663
Tax, wage and social debts
+€3,100
Advances received
-€27,145
Other debts
-€45,661
Accrued charges and deferred income
+€20,407
Investment (derived)
-€5.2m
Investment in fixed assets (net)
-€5.2m
Financing
+€4.5m
Debts after one year
+€4.2m
Current portion of long-term debt
+€346,786
Cash 2025
€266,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,262,115 | €5,892,898 | +€4.6m | +367% |
| Fixed assets | 21/28 | €753,963 | €5,142,556 | +€4.4m | +582% |
| Tangible fixed assets | 22/27 | €678,963 | €5,142,556 | +€4.5m | +657% |
| Land and buildings | 22 | - | €4,495,112 | +€4.5m | |
| Plant, machinery and equipment | 23 | €290,017 | €190,697 | -€99,320 | -34.2% |
| Furniture and vehicles | 24 | €316,249 | €395,362 | +€79,113 | +25.0% |
| Other tangible fixed assets | 26 | €72,697 | €61,385 | -€11,313 | -15.6% |
| Financial fixed assets | 28 | €75,000 | - | -€75,000 | |
| Current assets | 29/58 | €508,152 | €750,342 | +€242,191 | +47.7% |
| Stocks and contracts in progress | 3 | €80,801 | €116,099 | +€35,298 | +43.7% |
| Stocks | 30/36 | €80,801 | €116,099 | +€35,298 | +43.7% |
| Amounts receivable within one year | 40/41 | €327,917 | €356,686 | +€28,769 | +8.8% |
| Trade receivables | 40 | €267,486 | €344,264 | +€76,778 | +28.7% |
| Other amounts receivable | 41 | €60,430 | €12,422 | -€48,009 | -79.4% |
| Cash at bank and in hand | 54/58 | €64,131 | €266,188 | +€202,057 | +315% |
| Deferred charges and accrued income | 490/1 | €35,303 | €11,369 | -€23,934 | -67.8% |
| Total equity and liabilities | 10/49 | €1,262,115 | €5,892,898 | +€4.6m | +367% |
| Equity | 10/15 | €211,499 | €150,220 | -€61,280 | -29.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €201,499 | €201,499 | = | 0.0% |
| Distributable reserves | 133 | €201,499 | €201,499 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€61,280 | -€61,280 | |
| Amounts payable | 17/49 | €1,050,615 | €5,742,678 | +€4.7m | +447% |
| Amounts payable after more than one year | 17 | €83,003 | €4,251,917 | +€4.2m | +5,023% |
| Financial debts | 170/4 | €83,003 | €4,251,917 | +€4.2m | +5,023% |
| Amounts payable within one year | 42/48 | €967,612 | €1,470,355 | +€502,743 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €108,246 | €455,032 | +€346,786 | +320% |
| Trade debts | 44 | €268,544 | €494,207 | +€225,663 | +84.0% |
| Suppliers | 440/4 | €268,544 | €494,207 | +€225,663 | +84.0% |
| Advances received on contracts in progress | 46 | €29,955 | €2,809 | -€27,145 | -90.6% |
| Taxes, remuneration and social security | 45 | €136,682 | €139,782 | +€3,100 | +2.3% |
| Taxes | 450/3 | €20,501 | €2,846 | -€17,654 | -86.1% |
| Remuneration and social security | 454/9 | €116,181 | €136,936 | +€20,755 | +17.9% |
| Other amounts payable | 47/48 | €424,186 | €378,525 | -€45,661 | -10.8% |
| Accrued charges and deferred income | 492/3 | - | €20,407 | +€20,407 | |
| Remuneration, social security and pensions | 62 | €1,569,204 | €1,891,160 | +€321,956 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,956 | €772,321 | +€643,365 | +499% |
| Other operating charges | 640/8 | €11,465 | €6,931 | -€4,534 | -39.5% |
| Non-recurring operating charges | 66A | €304,924 | €1,789 | -€303,134 | -99.4% |
| Gross operating margin | 9900 | €2,324,852 | €2,658,747 | +€333,895 | +14.4% |
| Operating profit (loss) | 9901 | €310,303 | -€13,455 | -€323,758 | |
| Financial income | 75/76B | €9,696 | €8,359 | -€1,337 | -13.8% |
| Recurring financial income | 75 | €959 | €1,124 | +€165 | +17.2% |
| Non-recurring financial income | 76B | €8,737 | €7,235 | -€1,502 | -17.2% |
| Financial charges | 65/66B | €40,684 | €55,912 | +€15,227 | +37.4% |
| Recurring financial charges | 65 | €22,974 | €54,807 | +€31,832 | +139% |
| Non-recurring financial charges | 66B | €17,710 | €1,105 | -€16,605 | -93.8% |
| Profit (loss) for the period before taxes | 9903 | €279,315 | -€61,008 | -€340,323 | |
| Income taxes | 67/77 | €52,112 | €272 | -€51,840 | -99.5% |
| Profit (loss) for the period | 9904 | €227,203 | -€61,280 | -€288,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €227,203 | -€61,280 | -€288,483 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.